As governments launch massive spending measures to address the COVID-19 pandemic, the latest Open Budget Survey points to weak transparency and oversight of government spending.

Four out of five of the 117 governments assessed in the Open Budget Survey (OBS) 2019 failed to reach the minimum threshold for adequate budget transparency and oversight, and even fewer provided opportunities for the public to participate in shaping budget policies or monitoring their implementation. But there are signs of progress.

Macroeconomic projections aim to predict and understand the future state of the economy on a broad scale. They include information related to economic growth, inflation, wages, unemployment and trade.

Eurosystem and ECB staff produce macroeconomic projections that cover the outlook for the euro area and the wider global economy. These contribute to the ECB Governing Council’s assessment of economic developments and risks to price stability.

They are published four times a year (in March, June, September and December).